SEPARATION OR DIVORCE: LAURENTIAN BANK'S FINANCIAL PLANNERS RECOMMEND
PREPARING FOR FINANCIAL IMPACTS

MONTREAL, Oct. 28 /CNW Telbec/ - Although couples do not normally anticipate a separation or divorce when starting their lives together, that eventuality does indeed turn into reality for too many households. In addition to the varied range of services Laurentian Bank offers to families, such as joint accounts, for example, its financial planners can also meet specific needs in the event of a couple's breakup.

Matrimonial Law and Questions Related to Patrimony

Matters concerning family patrimony are clearly addressed in matrimonial law. All assets accumulated during the course of the union can be shared when the union is ruptured, as well as in the event that one member of the couple passes away. Assets that are generally considered to be part of family patrimony include the residence(s) and furnishings contained therein, automobiles, earnings under public pension plans, along with sums accrued in private pension plans and RRSPs. Property excluded from the family patrimony includes inheritances, bequests or gifts, and all other assets that are not identified in the law as being part of family patrimony, such as bank accounts, cash, stock, lottery winnings, and sums accumulated in a TFSA.

"Financial planners can effectively intervene in the event of a separation or divorce," underlines Guylaine Dufresne, Financial Planning Manager at Laurentian Bank. "With their extensive knowledge in different fields, planners can serve as a guide and valuable resource to facilitate the client's situation."

More specifically, the financial planner is able to help clients better understand the work of the specialists involved in the issues raised by the different aspects of a rupture. The planner could prepare a report on their client's financial situation in order to help the specialist (notary or attorney) make pertinent decisions. Upon request, they will also assist the client in assembling all the documents that will be required throughout the process. Finally, the planner can participate in the preparation of the client's financial statement and budget.

"The financial planner's intervention with the client can also focus on important precautions to be taken," adds Ms. Dufresne. "In other words, the planner will prepare and inform the client of the various choices they will have to make so as to be able to evaluate the offers they will be presented with by the specialists. As well, the planner will be there to follow up with the client."

Ultimately, financial planners are in a position to be able to offer their clients a great deal of technical support during the process of separation or divorce, while remaining objective and unemotional. In so doing, they help their clients make the best choices possible under a difficult set of circumstances.

About Laurentian Bank

Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $23 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,600 people.

For further information:

Mary-Claude Tardif
Public Relations Advisor
514 284-4500, extension 4695
[email protected]